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(I-SoftwareNews.Com, August 03, 2018 ) Market Overview:-
Smart Grid Security Market size will be fueled by growing development and increasing occurrences of cyber-attacks. Increased cloud- and web-based applications in businesses are anticipated to further propel market growth.
The frequency of usage of Advanced Metering Systems (AMI) is on the rise in recent years. The smart meters form an important constituent of the system. The installation of these and such smart grids are expected to positively impact the Smart Grid Security Market growth during the forecast period. Furthermore, the recent attacks on smart grids is expected to increase the adoption of security systems exponentially. However, the mismatch lifecycles of the IO and OT and differing practices in maintenance, design and qualification are anticipated to create gaps. These gaps can be maliciously exploited and are anticipated to pose threats to the smart grid security market.
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Top Key Players:-
Various stakeholders in the smart grid security market are cloud service providers, security service providers, national & state governments, utility companies, technology providers, enterprise users and IT service providers. BAE Systems PLC., Cisco Systems Inc., IBM Corporation, Siemens AG, Intel Corporation, Elster Solutions, Symantec Corporations, AlertEnterprises, N Dimension Solutions and Leidos are some of the players in the market. IOA Active Inc., Lockheed Martin Corp., McAfee, Alien Vault, Black & Veatch, Entergy Services, Sophos, Source Fire and ViaSat are some of the other leading providers of smart grid security. The companies are increasingly adopting the strategies of partnerships and collaborations to diversify the services portfolio and increase their market share.
Market share calculation in this report is not done based on companies covered in it. The calculation of smart grid security market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
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Regional Segmentations: -
U.S. smart grid security market is expected to dominate the revenue owing to the early cyber security adoption and rapid technological advancements. The Asia Pacific region is forecast to grow at the highest CAGR, considering the rapidly emerging opportunities across power industries in this region. Growing need for data security, fragmentation and innovation in the field is predicted to provide huge impetus to the European smart grid security market. For instance, in Denmark, close data exchange between distribution system operators (DSO), transmission system operators (TSO), retailers and generators takes place via data hub. The TSO takes care of the data security and has been outsources to a third party.
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Smart grids are the integration of traditional power grid and information & communication technologies. The integration empowers the consumers & electrical utility providers and improves availability & efficiency of the power systems. Smart grid security market continues to evolve with technology and to achieve efficient, reliable, economical and clean energy distribution, smart grids make use of different technologies such as advanced components, integrated communication, advanced control methods, improved decision support & interfaces and measurement & sensing. These technological improvements depend on analysis of massive amounts of data and new interconnectivity levels, which is expected to further market growth. Hence, the smart grid security market is expected to provide solutions that help secure the network infrastructure, data and the devices connected in the grid.
The smart grid security market also enable the constant controlling, monitoring and managing the consumer demands. Increase in usage of connected devices, technological advancements and increasing concerns for vulnerability & security are expected to boost the security systems demand.
Increasing internet of things (IoT) penetration and in turn rising adoption of smart grids are anticipated to fuel the security systems demand during the forecast period. The long investment cycles in energy sector and heterogeneous guidelines pertaining to cyber security is anticipated to be the biggest challenge faced by smart grid security market.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Global Market Insights, Inc.
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sales@gminsights.com
Source: EmailWire.Com 
Source: EmailWire.com
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